Title
Amending Section 19-1301 of The Philadelphia Code, relating to real estate taxes imposed by the City, and Section 19-1801 of The Philadelphia Code, relating to real estate taxes imposed by the School District of Philadelphia, by shifting an additional portion of the real estate tax from the City to the School District of Philadelphia, without changing the overall combined rate of the City and School District real estate tax; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 19-1301 of The Philadelphia Code is hereby amended to read as follows:
§19-1301. Real Estate Taxes.
(1) For each of the following years, a tax is hereby levied at the following respective rates on each one hundred (100) dollars of the assessed value of taxable real property returned by the Board of Revision of Taxes in the year immediately preceding the stated year:
Year of Tax Tax Rate
* * * * * *
2003 [and each year thereafter]
through 2007 $3.474
2008 and each year thereafter $3.305
* * *
SECTION 2. Section 19-1801 of The Philadelphia Code is hereby amended to read as follows:
§19-1801. Authorization of Tax.
* * *
(2) For each of the following years, the tax imposed by the Board of Education of the School District of Philadelphia shall be at the following respective rates on each one hundred dollars ($100) of assessed value of taxable real property as returned by the Board of Revisions of Taxes as the assessment made in the year immediately preceding the stated year:
Year of Tax Tax Rate
* * * * * *
2003 [and each year thereafter]
through 2007 $3.115
2008 and each year thereafter $3.284
* * *
SECTION 3. Effective Date. This ordinance shall take effect upon the filing by the School Reform Commission, no later than June 30, 2007, of a written explanation of how the additional School District funding tha...
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